Residential Income Property with
For Sale
$570,000
2412 17TH STREET NW Unit 305, Washington, DC 20009
Sunlit condominium residence with an open layout, updated kitchen finishes, custom storage, and access to neighborhood amenities.
Property Size844 SF
Days on Market137
Property Features for 2412 17TH STREET NW Unit 305
General Information
Standard status
Active
Size
844 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,483
Building Details
Building Size
844 SF
Year Built
1910
Listing Agency:
RLAH @properties
(703) 629-8455
Listed By:
Dennis A Horner · License #SP98363458
(703) 629-8455
Source:
Kwcapitalproperties
Added: Apr 8
Changed: Aug 20
Last Checked: Aug 22 at 11:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RLAH @properties
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, one-bathroom condominium residence with hardwood floors, crisp neutral tones, and an open floor plan connecting the living and dining areas. The kitchen features new flooring, Silestone quartz counters, stainless steel appliances, and maple cabinets. High ceilings, large windows with custom shades, and two balcony entrances with screen doors bring natural light and an airy feel to the home. The bedrooms offer ample closet space with custom organization, and the unit includes separate storage space.
The building was completely rebuilt in 2008. Located at 2412 17th Street NW in Washington, DC, the property is near neighborhood groceries, pharmacies, boutique shops, restaurants, public transportation, and the parks of Kalorama and Adams Morgan, including Meridian Hill Park. Woodley Park, Columbia Heights, and the U Street Corridor are also nearby.
The building was completely rebuilt in 2008. Located at 2412 17th Street NW in Washington, DC, the property is near neighborhood groceries, pharmacies, boutique shops, restaurants, public transportation, and the parks of Kalorama and Adams Morgan, including Meridian Hill Park. Woodley Park, Columbia Heights, and the U Street Corridor are also nearby.
Key Highlights
- Two‑bedroom, one‑bathroom condominium residence
- Open floor plan with hardwood floors and high ceilings
- Kitchen with Silestone quartz counters, stainless steel appliances, maple cabinets, and new flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,424
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$328,480
$328.5K
Cap Rate 7%
$234,629
$234.6K
Cap Rate 9%
$182,489
$182.5K
Market Conditions
NOI Build-Up for 844 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.7K $37.56/SF
− Vacancy
−$1.8K −$2.18/SF
EGI
$29.9K $35.38/SF
− OpEx
−$13.4K −$15.92/SF
NOI
$16.4K $19.46/SF
Area
ZIP 20009
Vacancy
5.80%
Lease Rate
$37.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$328,480
Cap Rate 7%
$234,629
Cap Rate 9%
$182,489
Alternative Uses
Best Use
Apartment 5plus
$234.6K
$205.3K – $273.7K
NOI $16,424 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$434.1K
$379.9K – $506.5K
NOI $30,389 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
Explore this area
Business Placement
Demographics for 20009, DC
53,357
Population
31,824
Households
1.7
Avg Household Size
34
Median Age
84%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
41,044
Density / Sq Mi
$140,555
Median Household Income
$99,606
Median Earnings
$2,346
Median Rent
$727,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Sunlit condominium residence with an open layout, updated kitchen finishes, custom storage, and access to neighborhood amenities.
Where is this residential income property located?
The property is located at 2412 17TH STREET NW Unit 305 Washington, DC.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bathroom condominium residence; Open floor plan with hardwood floors and high ceilings; Kitchen with Silestone quartz counters, stainless steel appliances, maple cabinets, and new flooring
